An Economic Solution For Miami-Dade County
Farid A. Khavari • investmentwatchblog.com • December 15, 2010
…Simply put, anywhere you look, there is just not enough money.
Fortunately, there is a permanent solution to Miami-Dade County’s economic problems which will also benefit every county resident and make Miami-Dade County recession-proof forever. The solution includes reducing reliance on tax revenues, while lowering and finally eliminating property taxes by 2015. MDC’s government can earn more revenue than ever before, by providing services which lower the costs of living for its residents.
The results of this solution will be massive job creation without subsidies, a stable and affordable housing market, and unprecedented prosperity as everyone’s costs of living are reduced. MDC will have a permanent budget surplus without cutting jobs or salaries.
The cornerstone of this solution is to create the Bank of Miami-Dade County, owned by the county and operated for the benefit of the people of MDC. This bank can be established at no cost to the taxpayers, and earn billions of dollars per year for MDC’s treasury, while saving MDC residents even more billions per year in interest costs.
A publicly-owned bank is not unprecedented. The State of North Dakota has owned a bank since 1918. North Dakota has the lowest unemployment in the U.S. (less than 4% compared to MDC’s 13+%), and a budget surplus of over $1 billion, because they do not rely on Wall Street for money. MDC can do even better.
Read the entire post here.
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